Maine real estate prices soared in 2021, sales ticked up

January 21, 2022 GMT

PORTLAND, Maine (AP) — Maine home prices increased by more than a sixth in 2021 while the volume of sales also increased slightly.

Single-family existing homes rose to a median sales price of $299,000 last year, the Maine Association of Realtors said Thursday. Sales went up a little more than 2%, the association said.

Realtor association president Madeleine Hill called last year “a record-breaking year for residential real estate in Maine.” The number of reported transactions exceeded 20,000 and was a historic high, Hill said.

The year ended strong, as listings for December showed an increase of median sales price of 12% compared to December 2020, the association said.

Price trends in Maine mirrored national ones. Nationwide prices rose by about 16%, the association said.

Maine home prices increased in every county in 2021. The largest increase was in Knox County, where they increased more than 28% to $344,000.